Standard Life and Aberdeen reveal board line-up and branding post-merger

Share
Standard Life and Aberdeen reveal board line-up and branding post-merger

The information is contained in a detailed prospectus published by Standard Life on the deal, which would create one of the world's industry powerhouses, overseeing £660 billion worth of global assets.

The prospectus said some of the savings would come from natural turnover of employees while other steps would be taken "to minimise the number of compulsory redundancies".

Britain's Standard Life said in March it had reached an agreement to buy Aberdeen Asset Management in an 11 billion-pound ($14.2 billion) all-share deal.

The two investment giants published their merger prospectus on Tuesday evening, confirming that a restructuring following the proposed tie-up will see nearly 9pc of the combined 9,000 roles go "to maximise operational efficiencies and cost synergies".

Documents released before a shareholders' meeting next month also reveal the name of the newly merged company will be Standard Life Aberdeen.

With £670 billion of combined assets under administration, the new company will be easily the UK's largest active asset manager and the second largest in Europe.

The documents, reported in the Financial Times, revealed the group would be managed by a board of 16 members drawn equally from both companies.

As announced in March, Standard Life's chief executive Keith Skeoch and Aberdeen's Martin Gilbert will be co-chief executives of the new company.

"The board will comprise the Chairman, four executive directors and eleven non-executive directors", Standard Life added in a statement.

Share

Advertisement

Related Posts

Has the plot for Marvel's Guardians of the Galaxy 3 been revealed?
This origin was detailed by Jim Valentino in Guardians of the Galaxy #1, released in 1990. Marvel Studios' Guardians of the Galaxy Vol. 2 is in cinemas now.

The Pairing of Two Franchises: The LA Clippers and Star Wars
But all the franchise's live-action movie premieres in May, past and future take place in the latter weeks of the month. The ad ends by stating "Say yes to the empire.say no to Jedi .say no to rebels and say no to May the 4th".

Five things we learned from Liverpool's crucial win at Watford
Klopp's team are in third place, although they have played at least one game more than most of the teams around them. The former Southampton man hit the bar, as did Watford's Sebastian Prodl with virtually the last kick of the game.

Napoli, gioco del lotto: vinti 120mila euro con un euro
La ricevitoria è quella di Giordano Mariana sita in via Giovanni Antonio Campano. È stata la vincita più alta di questo concorso. Distribuiti infatti 6 milioni e 300 mila euro su tutto il territorio nazionale.

Migranti: Sami (Unhcr), strategia trafficanti è organizzare partenze in massa
Grandi chiede, infine, che ci siano politiche e azioni coordinate da parte dei paesi europei. Siamo in attesa del report della Commissione del Senato che ci auguriamo porti chiarezza.

Chelsea keeper Thibaut Courtois: Everton clash biggest of season
But Arsene Wenger's side is six points behind Manchester City, which occupies the fourth qualification place. That is exactly what he does on the training ground and he continues on the field when they are playing.

Police departments offering to check meth for 'deadly gluten'
The post has been shared over 400 times, with many Facebook users seemingly supportive of the tongue-in-cheek plan. Multiple police departments across the country are offering to check methamphetamine for "deadly gluten ".

Yelp shares crash on guidance cut
Yelp did manage to beat bottom-line expectations, with adjusted earnings of 19 cents per share topping estimates by 4 cents. Shares closed at $34.70 Tuesday and tumbled almost 28% to $25.05 after hours in a 52-week range of $23.92 to $43.41.

Texas governor signs anti-sanctuary city law
Texas, with the longest border with Mexico of any USA state, has been at the forefront of the immigration debate. Greg Abbott signed into law Sunday that compels police to enforce federal immigration laws.

Funerale finisce in rissa: donna sputa su una bara e viene linciata
Vera o non vera questa storia, non ha interessato i pompeiani in primis, e neanche tutti i campani che hanno letto la notizia. Solo l'intervento di alcuni presenti e l'arrivo della polizia, allertata dai parenti, hanno posto fine al linciaggio.

© 2015 Vivere Milano. All Rights reserved.